Procurement Insights

AUGUST 14, 2024

These organizations can re-evaluate their vendor relationships and consider migrating to a more stable, profitable vendor with a clear long-term vision. Diversify Vendor Relationships: Consider diversifying your portfolio of procurement solutions to avoid over-reliance on a single vendor.

Procurement 98

Procurement Vendor relationships Innovation Leadership 98

Procurify

MAY 12, 2022

Keep in mind, however, that how a company shapes its internal procurement process influences factors like the company’s size, industry, available human resources, and organizational structure. For an in-depth explanation of the procurement process, check out our guide: What are the Stages of the Procurement Process ?

Purchasing 52

Purchasing Procurement Purchase orders Cost of ownership 52

Pipefy

MAY 9, 2023

Build a more efficient and connected procure-to-pay process with The Definitive Guide to P2P Optimization Importance of procurement KPIs Procurement has evolved over the years from transactional functions (now associated with purchasing) to encompass strategic activities focused on maximizing and creating value for a business.

Procurement 52

Procurement Real-time Visibility supply chain budgeting Procurement team 52

The Good Spending

NOVEMBER 4, 2024

Furthermore, procurement contributes beyond financial savings; it mitigates risk, ensures compliance, maintains vendor relationships, and supports continuity in vital yet challenging to quantify ways. The positive effects of these actions often compound over time, impacting profitability and operational stability.

Procurement 59

Procurement Contract Vendor relationships Procurement team 59